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Last week’s audacious daylight heist, where armed robbers made off with over US$4 million from an Ecobank branch in Bulawayo’s city centre, has sparked serious concerns about security protocols, with police insisting security companies should engage them in the movement of large sums of cash and valuables.
CCTV and amateur video footage from bystanders show how the robbers made a light meal of what could be the country’s biggest heist by casually laying their weapons on the ground to carry trunks with cash into a getaway pick-up truck that had blocked a poorly positioned security vehicle.
The robbery involved seven armed men who overpowered the security guards, disarmed them and made off with three trunks containing over US$4 million in just 149 seconds.
The security company in question, Safeguard, was quick to release a statement, which it emailed to all its clients saying it was not informed that it would be moving a sum outside “the contracted limits for the movement of cash” while Ecobank said it was “deeply concerned about this event and we are actively working with local law enforcement to ensure thorough investigations”.
Security experts who spoke to Chronicle yesterday pointed out several loopholes on the part of the security company and the bank while national police spokesperson, Commissioner Paul Nyathi said police possess highly skilled personnel and resources for transporting high-value assets.
Some of the issues raised by security experts include the seeming lack of use of a panic button, CCTV live feed, spotters, the deployment of a single vehicle, the attempted transportation from Bulawayo to Harare of a huge sum of money by road and not air, and poor communication between the bank and Safeguard.
One of the most glaring issues was the apparent failure to use a panic button. Panic buttons are a critical component of bank security, designed to alert law enforcement and a security company immediately in the event of a robbery.
The absence of this response raises serious concerns about the training and preparedness of the bank staff. While CCTV footage is crucial for post-incident analysis, real-time monitoring can provide immediate alerts to security personnel and law enforcement.
The lack of a live feed or its failure to trigger a timely response is a significant oversight. Plain-clothed spotters can monitor areas beyond the scope of the CCTV live feed.
Given the amount of money involved, transporting it from Bulawayo to Harare by road rather than air raises questions about the decision-making process. Air transport, while more expensive, offers a higher level of security and reduces the risk of interception.
Comm Nyathi also suggested alternative modes of transport, including air transport, for moving large sums of money but declined to disclose police charges for transporting valuables due to security concerns.
“There are companies that are already using a facility offered by the police. You write to the Commissioner-General of the Zimbabwe Republic Police, seeking assistance with the movement of large sums of money or other valuables,” said Comm Nyathi.
He urged security companies to engage the police when dealing with manpower challenges during the transportation of large sums of money, warning that failure to do so endangers employees, the public, and investor funds.
“Our appeal as the ZRP is for other security companies to seek approval from the Commissioner-General so that they are also assisted when transporting huge sums of money when they might encounter manpower challenges,” said Comm Nyathi.
“Police are available to advise companies in enhancing their security protocols. Security companies must not take things for granted as doing so endangers the lives of their employees and members of the public who might be in the vicinity of an armed robbery.”
Experts in the security sector noted that a majority of security companies in the cash-in-transit business are cutting corners to save money by reducing the number of vehicles and manpower needed when moving cash.
“Its standard procedure for cash-in-transit to have a convoy of three vehicles, two open trucks, one in front of the van carrying or collecting the cash and another pickup truck at the back.
“Each of the pickup trucks must have at least four shooters, all keeping an eye on the vehicle carrying cash,” said an expert. “Security companies are, however, trimming down the number of security officers to cut costs, giving criminals a chance to attack.”
The expert said despite the loss of over US$4 million, a shootout between the Safeguard Security team and the AK47 rifle-brandishing gang could have ended in a blood bath with the public being potentially caught up in the crossfire.
“The armed robbery took place just after 3pm, which is rush hour, so one can imagine the number of innocent bystanders, vendors, and motorists who could have been shot by stray bullets. A bullet from an AK47 assault rifle can travel over 3km at high velocity and can kill more than one person,” he said.
On the issue of how much a cash-in-transit vehicle can carry on a single trip, the expert said security companies are not allowed to transport more than US$250 000.
“The bank was not sincere by not informing the concerned security company that the three trunks contained over US$4 million. I guess that the bank didn’t want to pay the security company multiple trips to deliver the US$4 million,” he said.
Another security expert Mr Albert Nguluvhe noted that several security companies in the country do not use armoured vehicles equipped for transporting cash.
“From the videos that I saw, that vehicle didn’t appear to be armoured, something that is an anomaly because US$4 million is a lot of money to move around in a vehicle that can be pierced through by a bullet.
“Secondly, the security team appeared to be lax, which suggests that there was a potential leak that led to the robbery,” he said. “One wonders why such a huge amount was collected from a bank with just one vehicle when at least three vehicles must be deployed for such a job”.
Mr Nguluvhe noted that banks are supposed to have panic buttons that immediately alert nearby police stations to robberies, though it’s unclear if such measures were in place at the Ecobank branch.
A comment from the Security Association of Zimbabwe and the Bankers Association of Zimbabwe could not be obtained. In a separate incident, police are investigating a robbery in Habane Township, Esigodini where two armed suspects stole US$45 000 from a residence, injuring one occupant, who is now receiving medical treatment in Bulawayo.
Eight unidentified armed suspects launched a violent attack on a security guard in Harare, making off with US$23 175, firearms, pepper sprays, and handcuffs.
The police are appealing to the public for information that could lead to the arrests of suspects in both cases. Comm Nyathi also urged the public not to keep large sums of money in their homes to avoid such incidents.
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